V. Suarez & Co.
V. Suárez Group is one of Puerto Rico's largest commercial groups. Founded in 1943 the organization has grown and diversified.
Conflict with Bacardi
V.Suárez Investment Co. entered into a rum distribution relationship in 2007. V.Suárez agreed that it would distribute Bacardi (then considered Puerto Rico's most popular rum) throughout Puerto Rico. The agreement included grounds to permit termination for "just cause", limitations on damages, and provisions for dispute resolution requiring arbitration. Due to a reorganization in the Bacardi Corporation they choose to not renew the distribution contract in 2009. V.Suárez chose to pursue arbitration to attempt to obtain damages because of the lost revenue and their perception of the protections afforded them under Law 75. Law 75 is Puerto Rican law that provides "exclusive distribution rights" and provides the opportunity to protect corporations from unfair termination of contracts. In 2012 a final decision was reached in favor of Bacardi International.
Subsidiaries
Today V. Suárez Group is diversified into three distinct businesses:
- V. Suárez Division - The leading consumer product distribution entity in Puerto Rico with special interests in beverage and provision distribution. Additionally the division runs "El Horreo", a consumer retail wine store.
- V.Suárez Investment Co. - A diversified investment management company focused on maximizing investment income through a variety of investment instruments both within and outside of Puerto Rico.
- V.Suárez Real Estate Group - A real estate development and management company focused principally on the warehouse and office segments of the market.
Each of these three operating entities is supported by a centralized corporate services group composed of Executive Management, MIS, Finance & Accounting and Human Resources. The corporate services group ensures that managerial systems and processes are in place, and that adequate resources are allocated against business/market opportunities to ensure success and build stakeholder value.